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Keith, CPA, used monetary-unit sampling (MUS), sometimes called probability- proportional-to-size sampling, in the audit of a client's accounts receivable. Other information for the current year's
Keith, CPA, used monetary-unit sampling (MUS), sometimes called probability- proportional-to-size sampling, in the audit of a client's accounts receivable. Other information for the current year's audit is outlined below: Tolerable misstatement $ 20,000 $200,000 Recorded amount of accounts receivable Keith found the three misstatements listed below. Given this information, calculate the total projected misstatement. Enter the appropriate amounts in the associated cells in the table. Enter answers in the column Tainting % as a percentage. If no amount should be calculated, enter a zero (0) or leave the cell blank. Audit Recorded amount Tainting % Sampling interval Projected misstatement amount 123 123 1st Error $ 400 $ 320 $1,000 123 123 2nd Error $ 500 $ 0 $1,000 123 123 3rd Error $3,000 $2,500 $1,000 123 Total Projected Keith, CPA, used monetary-unit sampling (MUS), sometimes called probability- proportional-to-size sampling, in the audit of a client's accounts receivable. Other information for the current year's audit is outlined below: Tolerable misstatement $ 20,000 $200,000 Recorded amount of accounts receivable Keith found the three misstatements listed below. Given this information, calculate the total projected misstatement. Enter the appropriate amounts in the associated cells in the table. Enter answers in the column Tainting % as a percentage. If no amount should be calculated, enter a zero (0) or leave the cell blank. Audit Recorded amount Tainting % Sampling interval Projected misstatement amount 123 123 1st Error $ 400 $ 320 $1,000 123 123 2nd Error $ 500 $ 0 $1,000 123 123 3rd Error $3,000 $2,500 $1,000 123 Total Projected
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